Some know me as two of twenty-six
Distanced by seven,
Plus the first between odds,
Its left neighbor twice for eleven.

I can travel 3 states in a fraction of an hour,
Some 90% of your air bags, 70% of your thinking power.

What am I?

Answer

I am WATER.

Explained:

-Some people know water as H20:

H and O being "two of twenty-six" letters in our alphabet, "distanced by seven" [letters], "plus the first between odds", or the number 2. (2 is the FIRST EVEN NUMBER between odd numbers, 1 and 3). The "left neighbor" of 2 being the number 1, which is used "twice for eleven" or used twice to create the number 11. Thus, H20.

-Water can go from LIQUID to SOLID to GAS (or Vapor), or 3 "States" in a fraction of an hour.